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|Annual
Report and Financial Stat|ements|for the|year ended 31Jan|uary
2|
|---|---|---|---|---|
|CONTENTS||||Page|
|Chairman's
Introduction|||||
|Objectives and Activities|||||
|Charitable
Purpose|||||
|Key Activities|||||
|Aims|||||
|Meeting
the Aims and Objectives|||||
|Strategic Framework|||||
|Audience
Development
and Equality and Diversity|||||
|Measuring
Our Success|||||
|Development
Plans and Fundraising
Strategy|||||
|Achievements,
Performance
and Public Benefit|||||
|Overview||||5|
|Organisation
wide activities||||5|
|Equality
and diversity||||6|
|Preservation
and conservation|ofthe collection|||6|
|Preservation
and conservation|ofthe Scheduled||Ancient Monument|7|
|Environmental||||7|
|Education,
Information
and Interpretation||||7|
|Community,
audience
and stakeholder||engagement||9|
|Workforce —volunteers
and employees||||10|
|Financial
Review||||10|
|Reserves Policy||||11|
|Principal Funding
Sources||||11|
|Principal Risks and Uncertainties||||12|
|Pay Policy forSenior Staff||||12|
|Plans for Future Periods||||13|
|Structure
Governance
and management||||14|
|Relationship
with Subsidiary
Company||||14|
|Recruitment
and appointment
ofTrustees||||14|
|Reference and Administrative
Details||||15|
|Responsibilities
ofthe Trustees||||16|
|Independent
Auditor's
Report to the|Members|||17|
|Consolidated
Statement
of Financial|Activities|||21|
|Balance Sheets||||22|
|Notes and Accounting
Policies||||23|
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|strategic|frame|work
for Wheal
Martyn,
adopted|work
for Wheal
Martyn,
adopted|in early 2|022 is as follows:||
|---|---|---|---|---|---|---|
|Vision||Confident
communities,
inspiring||others|||
|Mission||As we safeguard
our heritage,|we provide||opportunities
for everyone to be inspired||
|||by and
learn
from Cornwall's|important||china
clay industry,
helping|to create a|
|||stronger
sense of place,
pride||and
confidence
in our communities||to support|
|||ambitious,
flourishing
futures|||||
|Strategic|pillars||||||
|||For our community||- A place|at the heart ofour communities||
|||For our heritage||-Protect,|share and learn from our heritage||
|||For everyone||- A great|day out for everyone||
|||For our environment||—Protect|and connect with our environment||
|||For our future resilience||—Thrive for the future|||
|||In partnership||-Working|together to achieve more||
|Values||Ambitious,
Spirited; Authentic;|Collaborative;
Adaptable;
Welcoming||||
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||||||Unrestricted
Funds|Restricted
Funds|Total 2023|Total 2022|
|---|---|---|---|---|---|---|---|---|
|||||Note|6|6|||
|Income|||||||||
|Donations|||||6,248||6,248|22,971|
|Income from charitable||activities|||140,094|225,880|365,974|336,913|
|Investment
income|||||5,429||5,429|2,502|
|Income from other Trading|||||||||
|Activities|||||||||
|Commercial
trading|||||167,350||167,350|151,485|
|Other|||||10,342||10,342|16,029|
|Total income|||||329,463|225,880|555,343|529,900|
|Expenditure|||||||||
|Costs of raising funds:|||||||||
|Commercial
Trading|||||134,597||134,597|125,378|
|Other|||||25,701||25,701|20,623|
|Charitable
activities:|||||||||
|Museum|||||125,510|237,291|362,801|413,407|
|Education|||||41,840|3,947|45,787|34,278|
|Total expenditure|||||327,648|241,238|568,886|593,686|
|Net incomel (expenditure)
the year before transfers|||for||1,815|(15,358)|(13,543)|(63,786)|
|Transfers
between
funds|||||(12,137)|12,137|||
|Net movements
in|funds||||(10,322)|(3,221)|(13,543)|(63,786)|
|Total funds brought|forward||||158,780|1,457,311|1,616,091|1,679,877|
|Total funds carried|forward|||18|148,458|1,454,090|1,602,548|1,616,091|
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|31Januar|y|20|23||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||2023||2022||
||||||||Group|Charity|Group|Charity|
|||||||Note|8||8|8|
|Fixed assets|||||||||||
|Tangible assets||||||14|1,418,840|1,413,811|1,503,695|1,496,548|
|Investments||||||15||100||100|
||||||||1,418,840|1,413,911|1,503,695|1,496,648|
|Current assets|||||||||||
|Stocks|||||||25,347||21,381||
|Debtors||||||16|106,395|105,465|161,920|161,097|
|Cash at bank||and|in|hand|||169,185|141,742|208,066|166,981|
||||||||300,927|247,207|391,367|328,078|
|Creditors:
due within|amounts
one year|||falling||17|(99,952)|(99,934)|(254,304)|(244,314)|
|Net current||assets|||||200,975|147,273|137,063|83,764|
|Creditors:
amounts
due after more than one|||||falling
year|18|(17,267)||(24,667)||
|Net assets|||||||1,602,548|1,661,184|1,616,091|1,580,412|
|Funds|||||||||||
|Restricted|funds|||||20|1,454,090|1,454,090|1,457,311|1,457,311|
|Unrestricted||funds||||20|148,458|107,094|158,780|123,101|
|Total charity||funds|||||1,602,548|1,561,184|1,616,091|1,580,412|
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|A summary|ofthe fina|ncial|performance|ofthe charity alone is|set out below|:|||
|---|---|---|---|---|---|---|---|---|
|||||||2023||2022|
|||||||f||6|
|Income||||||415,061||390,415|
|Expenditure|on charitable||activities|||434,289||468,308|
|Net income|I (expenditure)|||||19,228||77,893|
|Represented
by:|||||||||
|Restricted|Funds|||||(3,221)||(111,331)|
|Unrestricted|Funds|||||16,007||33,438|
|Total funds|brought|forward||||1,580,412||1,658,305|
|Total funds|carried forward|||||1,561,184||1,580,412|
|Represented
by:|||||||||
|Restricted|funds|||||1,454,090||1,457,311|
|Unrestdcted|funds|||||107,094||123,101|
|||||||1 561,184||1,580,412|
|4
Income from Donations|||||||||
|||||Unrestricted|Restricted||||
|||||Fundsf|Funds
f.
Total||2023
E|Total 2022
6|
|Donations||||1,642|||1,642|804|
|Job Retention Scheme||||||||6,249|
|Covid Support Grants||||4,000|||4,000|15,393|
|Donation
from Friends of Museum||||606|||606|525|
|||||6,248|||6,248|22,971|
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|||Unrestricted|Restricted|||
|---|---|---|---|---|---|
|||Funds|Fundsf|Total 2023
5|Total 2022
8|
|Admission
Income||120,942||120,942|105,275|
|Gift Aid on Admissions||16,007||16,007|14,475|
|Grants||||||
|Cornwall
County
Council||3,145||3,145|19,383|
|Other Grants||||||
|Clay Works (Delivery)|||93,523|93,523|10,559|
|Luxulyan
Valley|||||3,958|
|CC Creative Investment|Fund||40,000|40,000||
|NPO Programme|||90,857|90,857|85,267|
|Wolfson Development|Funds|||||
|Archive Covid Support|||1,500|1,500|50,000|
|Covid Recovery Arts fund|||||47,996|
|||140,094|225,880|365,974|336,913|
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|6|Investm|ent
I|ncome||||||
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|Total|
||||||Funds
8|Funds
F|2023f|2022
F|
|Bank|Interest||||8||8||
|Rents|receivable||||5,421||5,421|2,502|
||||||5,429||5,429|2,502|
|7a|Income|from|Trading|Activities|||||
|a
In|come fro|m Trading Activit|ies||||
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||Fundsf|Funds
6|2023
6|2022f|
|Commercial|Trading|Activities|167,350||167,350|151,485|
|Misc. Income/Events|||7,755||7,755|15,927|
|Corporate|Sponsorship/Fundraising||2,587||2,587|102|
|Recharges|||||||
||||177,692||177,692|167,514|
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||||2023|2022|
|---|---|---|---|---|
|||||6|
|Summary
Profit|and Loss Account||||
|Turnover|||167,353|142,366|
|Cost ofsales|||(54,729)|(48,664)|
|Gross profit|||112,624|93,702|
|Administrative
expenses|||(91,342)|(87,823)|
|Other Operating|Income|||9,119|
|Operating
profit|/ (loss)||21,282|14,998|
|Interest Payable|||(717)|(891)|
|Amount
gifted to|the Charity||15,068||
|Profit
/ (loss) retained
in the subsidiary|||5,497|14,107|
||||2023|2022|
||||6|f|
|The assets and|liabilities of the subsidiary|were:|||
|Tangible assets|||5,031|7,146|
|Current assets|||74,848|72,701|
|Creditors: amounts
falling due within one year|||(21,337)|(19,401)|
|Creditors: amounts
falling due after more than||one year|(17,266)|(24,667)|
|Total net assets|||41,276|35,779|
|Aggregate
share|capital and reserves||41,276|35,779|
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|Year ended 31 January|Year ended 31 January|2023|||||
|---|---|---|---|---|---|---|
|9a
Costs ofcharitable||activities|||||
||||||Total|Total|
||||Museumf|Education
6|2023
6|2022
E|
|Unrestricted
Funds|||||||
|Employee costs|||74,225|24,741|98,966|77,256|
|Rent and water|||2,960|987|3,947|2,059|
|Light and heat|||2,780|927|3,707|1,911|
|Insurance|||6,696|2,232|8,928|5,917|
|Repairs and maintenance|||8,490|2,830|11,320|12,551|
|Equipment
hire||||||883|
|Computer
expenses|||443|148|591|797|
|Postage and telephone|||3,788|1,263|5,051|3,618|
|Printing
and stationery|||1,254|418|1,672|1,102|
|Bank interest and charges|||3,689|1,230|4,919|4,281|
|Vehicle expenses|||72|24|96|91|
|Travel and entertaining|||128|44|172|220|
|Training
and subscriptions|||1,702|568|2,270|265|
|Depreciation|||2,465|822|3,287|3,391|
|Support|||10,800|3600|14,400|14,400|
|Governance|||6,018|2006|8,024|8,326|
|Total Unrestricted
Funds|||||||
||||125,510|41,840|167,350|137,068|
|Restricted Funds|||||||
|Museum
Development|Fund||22,091||22,091|23,692|
|Clay Works|||82,376||82,376|94,170|
|Historic
England
Covid|emergency||||||
|fund|||89||89|2,285|
|NPO Programme|||88,170||88,170|76,005|
|Archive Covid Support|||34,218||34,218|14,992|
|Luxulyan
Valley||||||11,638|
|ACE Covid Recovery Grant||||||49,502|
|Wolfson Covid-19 Support|||10,127||10,127|38,246|
|Major Partner
Museum|Programme|||||87|
|CC Creative Investment|Fund|||3,947|3,947||
|Cultivator
Cornwall|||220||220||
|Total Restricted
Funds|||237,291|3,947|241,238|310,617|
|Total|||362,801|45,787|408,588|447,685|
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|Unrestricted|Unrestricted|Funds|Funds||Museumf|Education
6|Total
6|
|---|---|---|---|---|---|---|---|
|Costs|||||(125,510)|(41,840)|(167,350)|
|Admission|Income||||136,949||136,949|
|Grants|||||3,145||3,145|
|Net Income||/ (Cost)||||||
||||||14,584|(41,840)|(27,256)|
|Restricted||Funds||||||
|Costs|||||(237,291)|(3,947)|(241,238)|
|Grants|||||185,880|40,000|225,880|
|Net
Income/(Costs)|||||(51,411)|36,053|(15,358)|
|Total Net|Income||/ (Cost)||(36,827)|(5,787)|(42,614)|
|10
Support and Governance||||Costs||||
|||||Support|Governance|Total|Total|
|||||||2023|2022|
||||||6|6|6|
|Audit fees|||||4,310|4,310|4,726|
|Head office||recharges||14,400|3,600|18,000|18,000|
|Trustees'|meetings||||114|114||
|||||14,400|8,024|22,424|22,726|
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|This is st|ated after charging:|||
|---|---|---|---|
|||2023|2022|
|||6|8|
|Depreciation||84,855|81,373|
|Auditor's|remuneration:|||
|audit|ofthe financial statements|6,350|6,325|
|Operating|leases|4,353|3,452|
|2
Staff costs and emoluments
Total staff costs were as follows:|||
|---|---|---|
||2023|2022|
||F|6|
|Wages and salaries|244,336|230,032|
|Social security costs|14,804|12,738|
|Other staff costs (pensions)|10,070|6,824|
||269,210|249,595|
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|Year ended 31 January
2023|Year ended 31 January
2023||||
|---|---|---|---|---|
|14(a)
Tangible fixed assets —Group|||||
|||Long leasehold|Plant,|Tata I|
|||property|machinery,||
||||equipment||
||||6||
|Cost|||||
|At 1 February 2022||2,011,355|518,194|2,529,549|
|Additions|||||
|At 31January|2023|2,011,355|518,194|2,529,549|
|Depreciation|||||
|At 1 February 2022||589,187|436,667|1,025,854|
|Charge for the year||71,975|12,880|84,855|
|At 31 January|2023|661,162|449,547|1,110,709|
|Net book value
At 31 January|2023|1,350,193|68,647|1,418,840|
|At 31 January 2022||1,422,168|81,527|1,503,695|
|14(b)
Tangible fixed assets —Charity|||||
|||Long leasehold|Plant,|Total|
|||Property|machinery,||
||||equipment||
||||6||
|Cost|||||
|At 1 February 2022||2,011,355|487,323|2,498,678|
|Additions|||||
|At 31 January|2023|2,011,355|487,323|2,498,678|
|Depreciation|||||
|At 1 February 2022||589,187|412,943|1,002,130|
|Charge for the year||71,977|10,760|82,737|
|At31 January|2023|661,164|423,703|1,084,867|
|Net book value
At 31January|2023|1,350,191|63,620|1,413,811|
|At 31 January 2022||1,422,168|74,380|1,496,548|
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||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|
||||||||E|E|
|Investment|in|subsidiary|at cost||||100|100|
|16
Debtors|||||||||
||||||Group|Charity|Group|Charity|
||||||2023|2023|2022|2022|
||||||E|E|E|E|
|Trade debtors|||||9,728|9,459|7,682|7,509|
|Amounts
due||from subsidiary|||||||
|Other debtors|||||4,545|4,545|5,275|5,275|
|Prepayments||and accrued income|||92,122|91,461|148,963|148,313|
||||||106,395|105,465|161,920|161,097|
|17
Creditors: amounts||||falling due within one year|||||
||||||Group|Charity|Group|Charity|
||||||2023|2023|2022|2022|
||||||E|E|E|E|
|Loan and|borrowings||||21,800|14,400|157,400|150,000|
|Trade creditors|||||11,430|9,302|22,242|20,510|
|Amounts|due|to parent|undertaking||40,825|36,071|22,266|19,869|
|Amounts|due|to subsidiary||||21,128||9,413|
|Other creditors|||||5719|5719|8,514|8,514|
|Taxation|||||604|604|||
|Accruals|and|deferred|income||19,574|12,710|43,882|38,008|
||||||99,952|99,934|254,304|244,314|
|||Group|Charity|Group|Charity|
|---|---|---|---|---|---|
|||2023|2023|2022|2022|
|Loans and borrowings|due after one year|E|E|E|E|
|Bank borrowings||17,267||24,667||
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|Year ended 31Jan|uar|y
20|23||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Group|Charity|Group||Charity|
|||||||2023|2023|2022||2022|
|Loans and borrowings||due after||one year||E|E|E||E|
|Bank borrowings||||||17,267||24,667|||
|||||||Group|Charity|Group||Charity|
|||||||2023|2023|2022||2022|
|Current loans and|borrowings|||||E|E|E||E|
|Bank borrowings||||||21,800|14,400|157,400||150,000|
|20
Analysis of|charitable||funds||||||||
|Analysis
of movements||in restricted|||funds —Group and Company||||||
||||Balance at
1
February
2022|||Incoming
Resources|Outgoing
Resources|Transfers|Balance
at
31 January
2023||
||||E||||||E||
|Restricted funds|||||||||||
|Museum
development
(restated)|fund||||434,580||(22,091)|||412,489|
|Clay Works (capital)||||1,043,745|||(57,357)|||986,388|
|Clay Works (revenue)|||||(80,641)|93,523|(25,019)|17,831||5,694|
|Statues|||||664|||||664|
|Waterw heel|||||1,844|||||1,844|
|NPO programme|||||(2,405)|90,857|(88,170)|(5,694)||(5,412)|
|Cornwall
Council Creative|||||||||||
|Investment
Grant||||||40,000|(3,947)|||36,053|
|Historic England
Covid-19
Emergency
Fund|||||5,695||(89)|||5,606|
|Wolfson Covid-1 9Support
Fund|||||16,754||(10,127)|||6,627|
|Archive Covid Support|||||35,008|1,500|(34,218)|||2,290|
|MPM Project|||||2,067|||||2,067|
|Cultivator
Cornwall|||||||(220)|||(220)|
|Total||||1,457,311||225,880|(241,238)|12,137||1,454,090|
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|Analysis
of mov|ement
in|unrestricted
funds
-Group|||
|---|---|---|---|---|
||||2023|2022|
|Balance at 1 February|||158,780|111,235|
|Income|||329,463|332,120|
|Expenditure|||(327,548|(283,069)|
|Transfer from/(to)|restricted|funds|(12,137)|(1,506)|
|Balance at 31 January|||148,458|158,780|
##
||||2023|2022|
|---|---|---|---|---|
|Balance at 1 February|||123,101|89,663|
|Income|||189,181|192,635|
|Expenditure|||(193,051)|(157,691)|
|Transfer from/(to)|restricted|funds|(12,137)|(1,506)|
|Balance at 31 January|||107,094|123,101|
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|||Unrestricted|Designated||Restricted|Total|
|---|---|---|---|---|---|---|
|||Funds|Funds||Funds|Funds|
|||E||E|E||
|Tangible|assets|19,964|||1,398,876|1.418,840|
|Current|assets|231,048|||59,879|300,927|
|Current|liabilities|(85,287)|||(14,665)|(99,952)|
|Long term liabilities||(17,267)||||(17,267)|
|||148,458|||1,454,090|1,602,548|
|||Unrestricted|Designated||R|estricted|estricted|Total|
|---|---|---|---|---|---|---|---|---|
|||Funds|Funds||Fu||nds|Funds|
|||E||E|||E|E|
|Tangible|assets|25,370|||||1,478,325|1,503,695|
|Current|assets|220,425|||||170,942|391,367|
|Current|liabilities|(62,348)|||||(191,956)|(254,304)|
|Long term liabilities||(24,667)||||||(24,667)|
|||158,780||||1,457,311||1,616,091|
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|t 31 January
2023 the company
an
ancellable
operating
leases:|d
group
had
the
following
total|commitments|under
n|
|---|---|---|---|
|2023|Land and
Buildings
f|Other
f|Total
E|
|Less than one year|1,851|1,253|3,104|
|Two to five years|7,404|262|7,666|
|More than five years|10,344||10,344|
|Total|19,599|1,515|21,114|
|2022|Land and
Buildings|Other|Total|
||6|||
|Less than one year|1,476|2,502|3,978|
|Two to five years|5,904|1,428|7,332|
|More than five years|9,853||9,853|
|Total|17,233|3,930|21,163|
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